CASHCAT tops $125 million market cap as early buyers post outsized gains

CASHCAT, a Robinhood-linked meme coin, remained central to early trading on Robinhood Chain as the new Ethereum Layer-2 briefly overtook Hyperliquid in 24-hour decentralized exchange volume on July 8. Robinhood Chain posted between $560 million and $570 million in daily DEX volume, with CASHCAT contributing roughly $98 million as the token climbed above $0.14 and reached a market capitalization estimated between $100 million and $150 million. The chain, which went live on July 1 as a permissionless network built on the Arbitrum stack with Uniswap, Chainlink and Morpho integrations, also saw daily active addresses approach 200,000, including more than 140,000 first-time users, while total value locked crossed $100 million within its first week, driven mainly by Morpho lending activity. Earlier reporting had tracked CASHCAT’s market cap above $138 million and highlighted large paper gains for early wallets, though accounts of one buyer’s purchase date, token amount and subsequent sales differed across reports. Trading volumes on Robinhood Chain have since begun to stabilize below the July 8 peak, but the chain’s lending activity suggests some users are deploying capital beyond short-term meme-coin speculation.